Most people who make 50 G's or more a year put their cash in mutual funds thinking they will come out a- head and be on the fast track to monetary wins. Good luck with all that. I would rather get all my cash back back than have some mutual fund huckster play with my mind and try to convince me that a complement of funds will have me sittin' pretty.
Here's what to do. Put all your cash in these things. These things only.
Put your cash in risk free accounts like a basic bank account or CD's. That's it nothing else. But with CD's make sure you don't need that cash, or else you'll pay a penalty and be taxed even more for taking your cash out before maturity. That's why I always say you should put your money strictly in cash. You'll sleep better, won't have to worry about your cash going up and down like a Yo-Yo like funds, and be sitting pretty with more cash in your pocket.
One of the best banks is ING for online savings. I've made interest income up the yin yang and have kept it. ING's Investment Savings Account is probably the best out there for interest rates, and it's great for moving cash between your main bank and ING. Whenever you get paid, put some cash aside in ING. That way you won't think about it. And like I've said many times, start sub-accounts and pay for things like gas and groceries through your ING account.
You'll be so far ahead of the Jones's you'll wonder why you never just put your money in cold hard cash before.
Much success with your cash.
Mark
Here's what to do. Put all your cash in these things. These things only.
Put your cash in risk free accounts like a basic bank account or CD's. That's it nothing else. But with CD's make sure you don't need that cash, or else you'll pay a penalty and be taxed even more for taking your cash out before maturity. That's why I always say you should put your money strictly in cash. You'll sleep better, won't have to worry about your cash going up and down like a Yo-Yo like funds, and be sitting pretty with more cash in your pocket.
One of the best banks is ING for online savings. I've made interest income up the yin yang and have kept it. ING's Investment Savings Account is probably the best out there for interest rates, and it's great for moving cash between your main bank and ING. Whenever you get paid, put some cash aside in ING. That way you won't think about it. And like I've said many times, start sub-accounts and pay for things like gas and groceries through your ING account.
You'll be so far ahead of the Jones's you'll wonder why you never just put your money in cold hard cash before.
Much success with your cash.
Mark
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